Maxeon Solar Stock Price, News & Analysis

Maxeon Solar Technologies (NASDAQ:MAXN) has launched the new Performance 3 AC panel, expanding its AC Energy Solutions portfolio. Following the successful introduction of the Maxeon 5 AC panel, this new offering aims to cater to varying market segments with a cost-effective solar solution. The Performance 3 panel enhances installation efficiency and provides homeowners a reliable, customizable solar system. Available to international markets through authorized installers, the panel will be showcased at The smarter E Industry Days on July 23, 2021.

Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in the Nomura International Industrials & New Energy Day on June 29-30, 2021, in Hong Kong (China time). The company’s management will engage in one-on-one meetings with institutional investors during this event. Interested investors can register through their sales representatives. Maxeon, headquartered in Singapore, is a leader in solar innovation, designing and manufacturing Maxeon® and SunPower® solar panels and has over 1,000 patents.

Maxeon Solar Technologies (NASDAQ:MAXN) appointed Steve Leonard as an independent non-executive director effective June 7, 2021. Leonard, with over 30 years in technology, currently leads Singularity University and has directorships with Singapore Post and AsiaSat. His experience in technology-driven transformation aims to enhance Maxeon's global growth strategy. Concurrently, Chee Keong Yap resigned as a director, with no disagreement reported. This leadership change aligns with Maxeon's mission of driving innovation in solar energy.

Maxeon Solar Technologies (NASDAQ:MAXN) announced a significant solar installation at Kering's new logistics hub in Trecate, Northern Italy. Expected to be completed by August 2021, this project is among Europe's largest rooftop PV systems, with a peak output of 12.7 MW. The installation will cover over 55,160 square meters and is predicted to generate over 13.5 GWh of clean electricity annually while reducing CO2 emissions by more than 7,500 tons. The project emphasizes the value of high-quality solar technology, contributing towards achieving LEED Platinum certification.

Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in several virtual investor conferences. On June 8-9, management will engage in one-on-one meetings at the Cowen Sustainability & Energy Transition Summit, followed by a fireside chat on June 9 at 2:30 PM ET. On June 10 at 2:00 PM ET, they will present at the 6th Annual Morgan Stanley Sustainable Futures Conference. Additionally, from June 21-23, management will meet with investors at the 7th Annual Roth Virtual London Conference. Interested investors can access the webcast on Maxeon's investor relations website.

Maxeon Solar Technologies (NASDAQ:MAXN) announced its Q1 financial results for 2021, reporting a revenue decline to $165.4 million from $245.6 million in Q4 2020, and 379 MW in shipments. Gross profit dropped to $1.1 million, with a net loss of $38.8 million. Despite challenges, the CEO expressed optimism about long-term prospects, highlighting progress in strategic initiatives and upcoming technology advancements. Looking ahead, Q2 outlook predicts shipments between 415-475 MW and revenue of $165-$185 million, alongside expected operating expenses of around $38 million.

Maxeon Solar Technologies (NASDAQ: MAXN) has secured an agreement to supply approximately 1 gigawatt of its bifacial Performance 5 UPP solar panels for the Gemini solar plus storage project near Las Vegas, Nevada. This project, built by Primergy Solar, will utilize nearly 1.8 million solar modules over a four-quarter period starting Q2 2022, with completion expected by the end of 2023. The Performance 5 panels have a rated efficiency of up to 21.1% and are tailored for extreme environmental conditions. This partnership illustrates Maxeon’s strong position in meeting utility-scale solar demands.

Maxeon Solar Technologies (NASDAQ:MAXN) announced its participation in upcoming virtual investor conferences. On May 26, at 9:00 PM ET, management will present at the Nomura International Carbon-Neutrality Series 2021 Conference in Hong Kong. Additionally, from May 27 to 28, Maxeon will host one-on-one meetings at the Bank of America Clean Energy Conference, with a fireside chat scheduled for May 28 at 10:00 AM ET. Investors can access the webcast through the company's investor relations website.